Antecedents and consequences of financial analyst turnover

Purpose The purpose of this paper is to examine the factors leading to turnover among sell‐side financial analysts and the consequences of turnover. Design/methodology/approach The paper identifies two types of turnover, voluntary and involuntary, and defines voluntary (involuntary) as when analysts leave their employment at one brokerage firm and find (do not find) employment at another brokerage firm. Logistic models are estimated relating …